SAP, Microsoft Teams, Textio, the joint employer rule, overtime, ageism, and plenty of funding

[00:00:00] . I want to sit inside your brain. Because I would not look at

[00:00:14] this story, any connect all of these dots you had not much.

[00:00:20] How do you go?

[00:00:22] We're people that say what are you thinking, I'm like whoa.

[00:00:27] I thought maybe we were going to go Home Depot.

[00:00:29] No, no, no. We can play stuff. No, dude.

[00:00:32] Like 10,000 employees employee data is up there.

[00:00:36] All right. I want to talk to you for a moment about retaining and developing your workforce.

[00:00:41] It's hard recruiting is hard retaining top employees is hard.

[00:00:45] Then you've got onboarding payroll benefits time in labor management.

[00:00:49] You need to take care of your workforce and you can only do this successfully if you commit to transforming

[00:00:55] your employee experience.

[00:00:57] This is where I saw comes in.

[00:00:59] They empower you to be successful.

[00:01:02] We've seen it with a number of companies that we've worked with and this is why we partner with them here at work

[00:01:08] to find.

[00:01:08] We trust them and you should too.

[00:01:11] Check them out at I solved HCM dot com.

[00:01:14] Silence on set.

[00:01:16] What is going on people Ryan Larry here from work to find and you are listening to the bar.

[00:01:23] It is the 14th of April and we have a whole lot of news to talk about this week.

[00:01:31] I am here with my favorite person in the world.

[00:01:36] My co-host Mr. William think up what is going on today?

[00:01:39] How much man how you doing?

[00:01:40] I'm good. How's that intro for you?

[00:01:42] Do you like that? That's great.

[00:01:43] Great work. Let's do more than that.

[00:01:45] That's awesome.

[00:01:46] I can start over. What's going on people though?

[00:01:49] So funny story.

[00:01:51] I started telling you about this.

[00:01:53] I was reached out to host an environmental festival.

[00:02:00] Okay.

[00:02:01] Things that would never happen to me.

[00:02:03] Okay. Good.

[00:02:03] I don't know why.

[00:02:05] I don't know why.

[00:02:06] However, maybe I'll get chosen.

[00:02:09] It'll be fun.

[00:02:10] It'll be fun.

[00:02:10] There'll be fishing stuff there.

[00:02:12] It'll be on the water and in Torafia.

[00:02:15] Have a good old time.

[00:02:16] So if you're in Philly, sometime around May for an environmental festival, come on by.

[00:02:21] I like all of them.

[00:02:22] MC.

[00:02:24] MC baby.

[00:02:25] MC.

[00:02:25] So any who we've got a lot of stuff to talk about.

[00:02:29] Let's let's do the the bee.

[00:02:31] The breaking news.

[00:02:32] This is jump into this thing.

[00:02:34] How about you kick it off?

[00:02:36] Good. All right.

[00:02:37] Let me pitch you the story.

[00:02:38] New SAP success factors app is now in the Microsoft Teams app store.

[00:02:46] So these large companies have been doing business together for a long time.

[00:02:51] It's not new, but this part is new.

[00:02:54] So teams you'd think is a it's an HR.

[00:02:58] You could see it as an HR product, right?

[00:03:01] And inside teams now they'll be able to do performance management and the other thing.

[00:03:07] Not ballistic.

[00:03:08] Yes.

[00:03:09] Well, Microsoft doesn't want to be in the HR tech based business.

[00:03:13] They want a partner with all of the different people.

[00:03:16] And so when I first read it, it's like, okay, what I like about is if you're a Microsoft shop,

[00:03:22] and there's a lot of Microsoft shops out there, then now you have access to do all the things that success

[00:03:29] factor does.

[00:03:30] Yeah.

[00:03:30] We think it is performance major, but it's much more than that.

[00:03:33] They have an ATS they have this.

[00:03:35] They have that.

[00:03:35] So they have all kinds of cool stuff and now it's on their app.

[00:03:39] So I like it.

[00:03:40] I think it's great.

[00:03:41] Things good partnership.

[00:03:42] It's a good way from Microsoft to get into the kind of the HR tech game without getting into the game.

[00:03:49] Yeah, well, and they're in the news for other things as well.

[00:03:53] So they with their whole antitrust issues with 365 and all of that.

[00:03:59] So use me on I'm dying over here.

[00:04:02] The don't put you on you for a second.

[00:04:06] As you should.

[00:04:07] Don't die.

[00:04:08] But I do like the partnership.

[00:04:10] I like the partnership in general, but I like this part of the partnership.

[00:04:14] I'm putting success factors inside a team's app.

[00:04:17] I like that.

[00:04:18] Does that make for good live podcasting?

[00:04:21] Monday for 100% 100%.

[00:04:24] 100%.

[00:04:25] Very professional here.

[00:04:26] Keep us.

[00:04:28] So so the whole antitrust suit with Microsoft.

[00:04:33] So they are on bundling teams from 365, which is really interesting.

[00:04:40] It's almost as if it is always reading an article on this the other day.

[00:04:44] And it was really interesting because they said, you know, it was almost as if they planned this, which I'm sure they did.

[00:04:50] Right bundle leds capture of the market, right?

[00:04:53] Let's do what we need to do.

[00:04:55] The government's going to force us to unbundle and now we're going to unbundle.

[00:04:58] But so many of the enterprise, right?

[00:05:00] Like most of the four to 100 is already tied to Microsoft at some level, right?

[00:05:08] With teams and etc.

[00:05:09] Right.

[00:05:10] So now here, the power to the power behind that is that because they're unbundled not as you get larger and further up the chain, let's watch them 100s.

[00:05:22] They're not interested in 365 right?

[00:05:25] Are interested in teams teams is kind of a platform.

[00:05:29] Right.

[00:05:29] So now they can expand there.

[00:05:31] They don't need the power of 365, which they've used for the last number of years.

[00:05:35] Well, and you know, they've got so many different products.

[00:05:38] They're not worried if you don't want to bond by one of them.

[00:05:41] So what doesn't that doesn't hurt them?

[00:05:44] Right.

[00:05:45] So that's the success factor.

[00:05:47] So what do you get success factors?

[00:05:48] All right.

[00:05:48] Textio are friends over in textio.

[00:05:51] So a lot of stuff happening over there.

[00:05:53] A lot of stuff, a lot of stuff happening.

[00:05:55] Unfortunately, this is about a layoff.

[00:05:58] So they had a cut 16 actually.

[00:06:00] This was a little while ago, actually.

[00:06:02] This is not super recent.

[00:06:03] We didn't talk about it, but there's been a lot of cuts in the space.

[00:06:09] And this is one that kind of whatever reason I just want to talk about.

[00:06:13] We know the people there.

[00:06:15] We know the team right on fantastic things.

[00:06:19] But their layoff was it was a little bit ago, but 16% of its staff, right?

[00:06:23] So they're left with roughly 71 or so employees that could have changed by now.

[00:06:28] The reason that they gave for this was that they were shifting their resources.

[00:06:33] To support what they call textio lift, which is essentially

[00:06:35] as a product that they released last year to help managers with feedback and

[00:06:42] to remove their bias from their feedback while doing the reporting and leadership reports

[00:06:47] and things like.

[00:06:48] Yeah.

[00:06:49] So there's there's there's got to be more to this story because their founder,

[00:06:54] Kirin stepped down stepped away, whatever, all that stuff.

[00:06:59] I kind of think that all and they had been studied.

[00:07:02] We did a podcast with them.

[00:07:05] And it's just I think they missed their moment when when chat GPT came out now.

[00:07:13] I think they missed their moment before that.

[00:07:16] I think grammarly, I think I think textio, what they were positioned around.

[00:07:21] There was a real uniqueness.

[00:07:23] And I think they had a moment to sell that uniqueness to somebody.

[00:07:27] Yeah.

[00:07:27] Now they're going to struggle like the video interview platform struggle for years

[00:07:35] against Skype.

[00:07:37] Right.

[00:07:37] You know, the basically people are like, yeah, okay.

[00:07:39] So I like it, but I can do that on Skype and they struggle with them.

[00:07:43] Can they pull out of this is really the question?

[00:07:46] I must say, I must say no.

[00:07:48] Yeah.

[00:07:49] I, unfortunately, I just, I think you, I think they missed their moment.

[00:07:53] I mean, they've been, they've been again researching large language models there.

[00:07:56] And they've been doing this a long time, long time.

[00:07:59] Yeah.

[00:08:00] But they had a moment where they were truly unique.

[00:08:03] Right.

[00:08:03] Showing people the bias and showing people very specifically what, what they could do.

[00:08:09] And now, now I think other people are going to have those models, maybe not on the same data.

[00:08:16] Maybe they won't be as good.

[00:08:19] But see that, that assumes that people can discern quality.

[00:08:23] Right.

[00:08:23] And that they're, they're, they're analyzing the problem.

[00:08:26] Most people can't discern quality, but it comes to stuff like this.

[00:08:30] So good becomes good enough.

[00:08:33] Right.

[00:08:34] Yeah.

[00:08:35] Oh, I wish to lock in and let's see where they go.

[00:08:38] Yeah.

[00:08:38] I hope I'm wrong actually.

[00:08:40] Um, so I came across this story and I thought of you because you brought up Home Depot.

[00:08:45] Yeah.

[00:08:45] I think pretty, pretty much every show.

[00:08:47] So that's why I was.

[00:08:49] I was going to work.

[00:08:50] They work with.

[00:08:51] I wish.

[00:08:51] I wish.

[00:08:51] I wish.

[00:08:51] I wish.

[00:08:53] I wish.

[00:08:54] No, they, I did a keyword search on Home Depot.

[00:08:57] What the hell was going on with Home Depot?

[00:08:59] No.

[00:09:00] So data compromised through third party, SaaS, misconfiguration.

[00:09:07] So this is comes from spikes, spikes, spikes works.com.

[00:09:11] And so basically a SaaS vendor, they didn't name the vendor yet.

[00:09:16] But really so like a fine day.

[00:09:20] Think it impact about 10,000 employees.

[00:09:22] So not a small group of people.

[00:09:25] They inadvertently expose the subset of employee data.

[00:09:29] So then it got me to think I have to read that on my.

[00:09:32] Who's responsible?

[00:09:34] So when you go through an implementation, right?

[00:09:36] You're doing configuration.

[00:09:37] You're doing all that type of stuff.

[00:09:39] Is it is if their company is at home depose fault?

[00:09:43] I mean, is it their fault or is it let's pick a vendor?

[00:09:46] I'm not we don't need to say names, but let's pick a vendor.

[00:09:49] Is it their fault?

[00:09:50] So that's what got me thinking down this line.

[00:09:52] Like, okay, when this stuff goes sideways, who's fault?

[00:09:55] Which then got me to think practitioners check the language in your contracts.

[00:10:02] So anything that's related to data breach or security or any of that type of stuff.

[00:10:06] It's probably already in already in there.

[00:10:09] There's probably some type of contingency that's already been written in there.

[00:10:12] But but the problem has historically been is the salt.

[00:10:16] The contracts come from the software companies.

[00:10:19] What you're going to protect the software companies.

[00:10:21] Right.

[00:10:22] Not necessarily the practitioners, so just as a word of advice check your make sure that your legal team goes back to the before something like this happens.

[00:10:31] Not after the fact, but it is again data.

[00:10:36] Data breaches happen.

[00:10:38] Kind of a part of our modern life.

[00:10:40] But this was this one is the first one I've found.

[00:10:44] Those bound misconfiguration of SaaS software.

[00:10:47] For a moment in time, just one day I want to sit inside your brain.

[00:10:55] Oh, good God.

[00:10:56] Because I would not look at the story.

[00:10:59] And connect all of these dots you would not watch.

[00:11:05] How do people have?

[00:11:06] We go with people that say, what are you thinking?

[00:11:09] I'm like, whoa.

[00:11:12] I thought maybe we were going to go home depot age is only old.

[00:11:16] Yeah.

[00:11:17] No, no, no, no, no, no, no.

[00:11:19] Plastic 10,000 employees employee data is up there.

[00:11:24] I'm sold on the black way.

[00:11:26] New hire, right?

[00:11:27] So new hire, Sencia.

[00:11:29] We love Sencia, right?

[00:11:30] We've talked to them.

[00:11:32] We have beautiful booths at the events.

[00:11:36] Great people.

[00:11:37] They brought in new head of product.

[00:11:38] His name is Steve Goldsmith.

[00:11:40] He was from you have to help me with an amp atlason.

[00:11:43] At last, yeah, at last, yeah.

[00:11:44] And I always get this wrong.

[00:11:46] Yeah.

[00:11:47] I love this.

[00:11:48] I don't know Steve personally, but I do love his background.

[00:11:55] And I think it's exactly what a company like Sencia needs.

[00:11:59] He comes from just a world of workflow management, right?

[00:12:03] So Jira for those who know so companies like Jira,

[00:12:08] Confluence, Trello, right?

[00:12:11] So he comes from a background that fits so well into what Sencia does

[00:12:17] from his ability to I shouldn't say I don't know his ability.

[00:12:22] But what I would he's got a he's got a track.

[00:12:26] I mean, that's a category.

[00:12:28] He's got a pedigree track record.

[00:12:30] Pedigree all the same there.

[00:12:32] I like it.

[00:12:34] And does it come from the usual suspects?

[00:12:36] No, no, they're not coming from another HR tech company.

[00:12:39] I think every company needs a these a joke at some point.

[00:12:45] Yeah.

[00:12:45] And I think this could be it.

[00:12:46] So I'm interested to see where this goes.

[00:12:48] I love it.

[00:12:49] I think it's a great story because again, bringing a new talent and again,

[00:12:52] talent with that type of pedigree.

[00:12:55] That's going to help Joanna or Joe if you know, yeah.

[00:13:01] So I think it's good.

[00:13:03] What I, you know, what it would, what would I like about hires,

[00:13:07] not just with this particular hire, but fire when we bring people,

[00:13:11] I say we meaning the royal we in the chart tech from outside the industry.

[00:13:17] I love that because we have a lot of innovation in this space.

[00:13:20] We really do.

[00:13:23] But it feels like it's lagging behind.

[00:13:26] Oh yeah.

[00:13:27] Right.

[00:13:27] So we bring people from other industries.

[00:13:30] I think that that provides that punch in that innovation that we need to move faster.

[00:13:35] And I'm hoping I see this here.

[00:13:37] Oh, 100%.

[00:13:38] I think you're, I think you're spot on.

[00:13:40] I let me pitch you this story.

[00:13:41] So AI driven future, re-skilling initiatives by tech giants.

[00:13:47] This I found on X recruiting.

[00:13:50] So it's a X a recruiting.com.

[00:13:53] The only thing I think of deep.

[00:13:54] So I'm X is guy something and then when we ask somebody,

[00:13:58] what are you asking when you when you said that the only thing that played in my head was the poho,

[00:14:04] green giant.

[00:14:07] That's a really bad impression.

[00:14:09] That's all I can think of just now.

[00:14:12] Now it's and I'm thinking of X versus ask.

[00:14:14] So we're tracking.

[00:14:17] So here's some of the players just, just named in the article indeed, indeed,

[00:14:21] Cisco, just take your IBM Google A fold until Microsoft S.A.

[00:14:25] All right.

[00:14:26] So why I think this is really, really interesting is they're trying to provide as a group.

[00:14:33] They're trying to provide recommendations to employers on the way to upskill workers so that they're prepared for how AI affects their roles.

[00:14:44] So I like this kind of these tech giants coming together and going, okay, we see.

[00:14:49] I mean, I've seen a figure is large as 300 million jobs will be impacted by AI.

[00:14:56] Okay.

[00:14:56] So that lost impact no, no impacted.

[00:14:59] So again, what they're doing is they're basically saying, okay, we know that the skills of the future.

[00:15:03] We're going to need this and then they're basically doing it together instead of learning in silos, which I like.

[00:15:11] And I think it's a good idea because it hopefully maybe it lessens fobo that you're being obsolete that we talked about.

[00:15:18] Yeah, this is I'm curious to see where this goes.

[00:15:22] This is almost like the ultra wealthy ultra rich getting together and saying, I'm taking 75% of my fortune in donating it to charity, right?

[00:15:35] They're taking all of their power and they're saying, okay, we recognize now let's not let's not misunderstand this.

[00:15:44] They're going to benefit from this.

[00:15:46] Oh, 100% okay.

[00:15:47] That said, if they don't do this, there are going to be millions and millions of people that are going to be left with what do I know left behind?

[00:15:58] Right.

[00:15:58] And so and it's disproportionate white collar jobs.

[00:16:02] Yes, correct.

[00:16:04] So so so you know, it's not going to impact your master plumber.

[00:16:09] My mom always said, be a plumber.

[00:16:13] I probably would be a right mom.

[00:16:15] I would probably do a master electrician, but I know a guy down here that's a master electrician and a master plumber.

[00:16:23] Dude, he comes to the house.

[00:16:26] He could just fix things.

[00:16:29] I want that super.

[00:16:31] If I had to pick a superpower, it would be to be able to fix it.

[00:16:37] Like just anything like.

[00:16:39] Oh yeah.

[00:16:39] No, no, I don't want to YouTube it anymore.

[00:16:42] I want to be able to fix it.

[00:16:44] Let me get a screwdriver.

[00:16:45] I could just take care of this real quick.

[00:16:47] Yeah, not me.

[00:16:49] All right.

[00:16:49] I've got two here.

[00:16:50] One's going to be super fast because I've talked about it previously the overtime rule.

[00:16:57] Yeah.

[00:16:57] Okay.

[00:16:57] So for those that didn't listen, I don't know who would not have listened to the previous episode.

[00:17:04] So we'll just start there.

[00:17:06] Okay.

[00:17:06] So the overtime rule, the threshold.

[00:17:08] So what I'm talking about here is in order to be eligible for overtime pay.

[00:17:15] Okay.

[00:17:16] The threshold was 35,000, 568, okay?

[00:17:20] Which that's not a it's a non-living wage.

[00:17:22] It is right.

[00:17:24] Right.

[00:17:24] So if you were over that amount of money, if you made more than 35,000,

[00:17:28] you just weren't eligible, right?

[00:17:29] Like you didn't have to be.

[00:17:32] Now, so the proposal was 55,000 and changed.

[00:17:37] That was whatever a couple of weeks back we spoke about is now that that cleared that clear into the White House.

[00:17:45] Okay.

[00:17:45] This has now been not published into law, but it has been accepted and clear.

[00:17:52] So it's unclear when it would have the expectation is April,

[00:17:56] running out of time.

[00:17:57] So maybe a little later, but the addition to this is that every three years

[00:18:03] it is reviewed and so that number can continue to go higher.

[00:18:08] That means if you're making 45,000, then you were eligible for overtime.

[00:18:14] Once this publishes and clears, you will be, you will now be eligible for overtime

[00:18:20] and obviously that affects money, money.

[00:18:23] Right, right, right.

[00:18:24] The cost is going to get passed down.

[00:18:26] Just like what we talked about last year with the

[00:18:29] in California, the minimum wage going up.

[00:18:32] Are you going to pay 30 bucks for hamburger?

[00:18:34] Right.

[00:18:35] No, right.

[00:18:37] It's not like they're going to take it out of the loss.

[00:18:40] Or you know, they're just get passed on.

[00:18:44] So no, the fuel fuel goes up airline tickets, go up same thing.

[00:18:47] Right.

[00:18:48] Right.

[00:18:49] I mean, yeah.

[00:18:52] Okay.

[00:18:52] You know, you go to a restaurant now.

[00:18:54] It's $18 for hamburger.

[00:18:56] Oh, yeah.

[00:18:57] That makes the hamburger not good to me.

[00:19:00] $6.

[00:19:01] I love the hamburger.

[00:19:02] You see that reminds me of that bit in Pulp Fiction where

[00:19:06] never seen it.

[00:19:07] John, John Travolta says it's $5.

[00:19:10] Shake is like $5.

[00:19:11] Shake.

[00:19:12] That's crazy.

[00:19:14] Better be a better be a really good.

[00:19:16] Yeah.

[00:19:16] Yeah.

[00:19:17] And then check you get a $5 shake now.

[00:19:19] And then and then it comes and he tastes.

[00:19:21] He's like, that's a pretty good, that's a pretty good shape.

[00:19:24] Pretty good shape.

[00:19:25] That's what we're going to do with $30 hamburgers is we're going to.

[00:19:29] But it's a pretty good hamburger fair enough.

[00:19:33] But it's not that my second one here said the real thing I want to talk about.

[00:19:39] The joint employer rule.

[00:19:41] So I wanted to talk about this a couple of weeks back and I think I mentioned it.

[00:19:44] This was when subway was stealing tips and all of that stuff because it's kind of tied into that.

[00:19:51] So it's so it's the they killed it.

[00:19:56] Right?

[00:19:57] So it went to the Senate last time it was just kind of whatever it was.

[00:20:01] It went through Senate Senate said they killed it.

[00:20:04] Not not over yet, right?

[00:20:06] Not over yet.

[00:20:07] There's still going to kind of work through it.

[00:20:10] But this is a protection for the work.

[00:20:12] This is this is a worker protection clause.

[00:20:15] So I'll give you an example here.

[00:20:19] I'll kind of tie it back into work.

[00:20:22] Think staffing agencies, think subcontractors, 10 agencies, companies like this, right?

[00:20:31] Where I'm a staffing agency and I find you in the market.

[00:20:36] I give you to someone else, right?

[00:20:38] And I'm paying they're paying me.

[00:20:40] I'm paying you they're paying me $50.

[00:20:43] I'm paying you 20 bucks.

[00:20:45] Right.

[00:20:45] Right?

[00:20:45] So it's it's it's this process, but what happens with benefits?

[00:20:50] What happens when you get hurt?

[00:20:52] What happens when I don't know, there's a wage issue, something like that.

[00:20:58] Who's responsible for that?

[00:21:00] Right?

[00:21:00] Who's responsible for your employment employment rights?

[00:21:04] Is it different between the W4 and W2?

[00:21:07] Right.

[00:21:07] Well, and so that's the confusion.

[00:21:09] And so does it?

[00:21:10] It's a confusion.

[00:21:11] It's very W4.

[00:21:13] The thing is, is this one never this kind of it's it's it's it's way over my head in terms

[00:21:20] until the French government takes over our government.

[00:21:23] It'll never happen because it extends employee benefits and rights that they don't want to give no business

[00:21:32] wants to get quite frankly to contractors.

[00:21:36] No, you know, I mean, the risk.

[00:21:39] It's if you want to be an employee, that's a decision.

[00:21:42] If you want to be a contractor, that's a decision.

[00:21:44] Yeah.

[00:21:44] And sometimes that's your decision.

[00:21:46] Sometimes that's the company's decision.

[00:21:48] But there are rights for contractors now that are very different than they were.

[00:21:53] A couple of years ago, yeah, this is like the gig worker issues and all this stuff.

[00:21:58] And this is all part of that.

[00:21:59] So anyhow, that's it.

[00:22:02] All right.

[00:22:02] Let me pitch the story to you.

[00:22:04] So you know, Nvidia basically the makers of all kinds of AI stuff.

[00:22:09] There's stocks going through the roof for the last two years.

[00:22:13] It's someone once told me to buy it three, four or five years ago.

[00:22:18] And I said, yeah, sure.

[00:22:20] And I never wanted that's why I'm okay.

[00:22:23] So it's all good.

[00:22:23] As I say, you've got some crypto.

[00:22:25] So you're good.

[00:22:26] The benefit of me not buying it is I'm sitting here with you.

[00:22:29] See, there you go.

[00:22:30] That's a I think that's a good way to look at all the things.

[00:22:34] There's no choice.

[00:22:37] Whatever wherever you went left and there was a time I'll let you get to your story.

[00:22:43] And I posted a photo.

[00:22:45] You were sitting here.

[00:22:46] I was sitting here on a plane.

[00:22:48] That's what the photo said, you know, you've made it when William Tinkoff is sitting next to you on a plane.

[00:22:55] It was kind of a creeper photo.

[00:22:57] But it was it works.

[00:23:00] I have one of you falling asleep at one of our events.

[00:23:03] So that happens a lot.

[00:23:06] I believe you don't know.

[00:23:07] That was actually really funny because we don't get this.

[00:23:09] I'm going to fall asleep now.

[00:23:10] I posted on Instagram is so great.

[00:23:12] Right?

[00:23:12] Like your your hands like I forgot about that.

[00:23:15] Yeah, that was pretty fine.

[00:23:17] Ryan's really he's man.

[00:23:19] He's in the he's into this training.

[00:23:21] We're going to have to find that photo.

[00:23:23] That was pretty funny.

[00:23:24] Oh, it's on my Instagram.

[00:23:26] So in video employees some story goes.

[00:23:29] This has been business insider.com.

[00:23:32] So check it out in video employees are getting richer with a special Jensen grant that boost their stock award like 25% so basically Jensen is their CEO founder, etc.

[00:23:45] They have a market cap of one trillion.

[00:23:49] That's again.

[00:23:51] What is it?

[00:23:53] Yeah, we're T.

[00:23:55] Talk trillion trillion.

[00:23:57] Yeah.

[00:23:58] So you know pocket change.

[00:23:59] So the thing is, as I read the article, I like articles like this where you can see that the CEO founder is trying to do the right thing.

[00:24:09] Like basically looks around and says no one thought when thought that the talk was going to shoot up like it is and splitting and so on.

[00:24:14] I got crazy stuff.

[00:24:15] You know what?

[00:24:17] Let me.

[00:24:18] Let's go back to our stock options plan and let's do some right things the right size and etc.

[00:24:22] And so I love stuff like this because they don't get enough news that those stories don't get enough news in our world.

[00:24:29] But then I thought about you know if you want to retain employees because that talent is probably.

[00:24:34] I'm just guessing that I would imagine there's a bunch of firms that want to recruit that talent.

[00:24:38] Yeah, right?

[00:24:40] So this is a great way to retain your talent.

[00:24:45] Give make them shareholders.

[00:24:47] Yeah, give them give them just more stocks so they're more vested in what you're doing and it's going to be harder for the other companies.

[00:24:55] Other big companies up there are trying to do some of the same things.

[00:24:57] So I love it.

[00:24:59] Yeah, we have a way difference.

[00:25:03] Way different category and money and all that.

[00:25:07] We have a couple of grocery stores in this area.

[00:25:10] We want one specific.

[00:25:11] I'm thinking of called red nurse where it's employee owned.

[00:25:15] Yep.

[00:25:15] Right?

[00:25:16] And so I've always wondered like oh, how does that work like I come in?

[00:25:20] I get a job.

[00:25:21] I get a little bit of that.

[00:25:23] I don't know that that teets me there.

[00:25:24] Not a super market.

[00:25:26] But why know we're talking hundreds of thousands of dollars different with these people.

[00:25:30] Yeah, I think well again depending on your position at supermarket,

[00:25:35] I think if you're bagging groceries at supermarket, you probably not think about.

[00:25:39] Yeah, why not that big a deal?

[00:25:40] Yeah.

[00:25:40] But if you're a manager, yeah, probably sure.

[00:25:44] Probably helps you.

[00:25:45] Yeah.

[00:25:46] All right.

[00:25:47] So portable benefits for gig workers.

[00:25:51] Curious to get your your thought on this here.

[00:25:54] So first, let me define portable benefits for those that are listening that may not know.

[00:25:59] And then I want to get you thought on this.

[00:26:00] So portable benefits for gig workers essentially refer to benefits that are not tied to a specific job or the employer.

[00:26:09] Rather, rather it's tied to the employee or the gig worker in this case.

[00:26:16] A lot of ways for this to be funded, right?

[00:26:18] But I'm curious to get your thoughts on having a subset of benefits,

[00:26:23] a portable benefit program for gig workers that choose to be gig workers as opposed to a full time role at an organization.

[00:26:32] What's different from that in ACA or what people sometimes refer to as a bomber care?

[00:26:39] I don't think there is a difference.

[00:26:41] Yeah.

[00:26:41] Right.

[00:26:42] So you can get benefits if you want to get benefits, you can get benefits.

[00:26:45] Yeah.

[00:26:46] So the portability, I think when ACA first came to market,

[00:26:50] it scared everyone because companies would use that to keep their employees.

[00:26:55] Right?

[00:26:56] So this is just a way of being able to keep their employees.

[00:27:00] And if you have really good health insurance, it would be something that can't walk away from this because we have such great insurance.

[00:27:07] Yeah.

[00:27:07] But with ACA, a slash Obamacare,

[00:27:11] you can go on and get insurance.

[00:27:14] Yeah.

[00:27:14] And it's regular.

[00:27:15] Like, we're not talking about it.

[00:27:17] Some nickel diamond like these are regular.

[00:27:21] It just blue cross and all the others.

[00:27:23] Yeah.

[00:27:24] So if you want insurance, you can get insurance being pay for insurance, you can get insurance, etc.

[00:27:30] So I don't only think that there's a there there in less the platform start contributing.

[00:27:36] Let's say I could see a play with the platforms that we know and love.

[00:27:41] Right.

[00:27:41] That didn't say, hey, what can you be 25% to your benefits?

[00:27:46] So they don't they know you still it's horrible.

[00:27:50] You still buy it, etc.

[00:27:51] It's just either reimburs you or the financial mechanism they'd have to work on.

[00:27:58] But that keeps you on the platform.

[00:28:00] Right.

[00:28:01] And you can go from platform to platform, it just transfers with you.

[00:28:06] Yeah, that would be harder.

[00:28:07] That I think they think they would only do it.

[00:28:09] If I were a platform, I would only do it if they stayed on my platform.

[00:28:13] I wouldn't want them to be able to go from two of these different platforms from one to the other and back and forth.

[00:28:21] Yeah.

[00:28:21] Like from fiber to what is it better up?

[00:28:25] Not better up.

[00:28:25] We work.

[00:28:26] Yeah.

[00:28:26] Yeah.

[00:28:26] Upward.

[00:28:27] So from upward to yeah, different work.

[00:28:30] So from from from we worked to to fiber.

[00:28:35] If I were fiber, I would say, hey, listen, if you spend 90% of your time with fiber and you're in your non-employee.

[00:28:44] Yeah.

[00:28:44] Still subcouchers.

[00:28:45] So you can do whatever you want, but we'll contribute.

[00:28:48] Yeah, it's interesting.

[00:28:49] And you know, it keeps that talent there.

[00:28:51] Yeah.

[00:28:51] And it's so it's so hard.

[00:28:53] I don't know how they would do that.

[00:28:55] And again, this is why people get paid a lot more than me and much smarter.

[00:28:59] But

[00:29:00] if you can't generate the work on that platform, how do you stay?

[00:29:06] Right.

[00:29:06] So they would be so much transient traffic of employees and gig work like I don't know how that happened.

[00:29:12] That's probably why it hasn't happened yet.

[00:29:14] Yeah, but I love the idea.

[00:29:16] And I and yes, there are marketplaces currently to get that and they're very affordable.

[00:29:22] Yeah.

[00:29:22] Yeah.

[00:29:23] Yeah.

[00:29:23] Very.

[00:29:25] Well, I let me pitch you a story.

[00:29:27] Now we are for the audience.

[00:29:28] Acquisition to the A's, the acquisitions.

[00:29:31] So I found this on PR newswire.

[00:29:34] So this is multiverse acquires AI talent software company search line to help businesses close skills gaps.

[00:29:43] So basically what this is going to do is help multiverse with both the skill gap analysis and AI.

[00:29:52] Because socialite was really good at both really really good at understanding kind of what's what's missing in the story.

[00:29:59] And what I love about this particular acquisition is that both founders are twins or sisters came out, came out and went through a

[00:30:09] Oh, I can't remember.

[00:30:10] I can't remember what accelerator they went through.

[00:30:12] Anyhow, the win through an accelerator then it came up with socialite.

[00:30:15] And they've been doing it for a couple of years are really smart, really, really nice.

[00:30:20] Love seeing that but I love seeing the founders like what I'm going to be head of product and what I'm going to be head of AI.

[00:30:26] Like they're taking senior positions.

[00:30:28] Right.

[00:30:29] So I think it's good and I wish a well.

[00:30:32] Yeah.

[00:30:34] I'm with you on this one.

[00:30:35] Okay.

[00:30:35] KDM.

[00:30:36] Friends at KDM.

[00:30:38] TA provider obviously.

[00:30:41] Hourly hiring is where they play.

[00:30:44] They've been acquired by a PE firm basis vector capital vectors capital.

[00:30:50] So I know you have thoughts on private equity firms getting involved.

[00:30:55] They can be good or bad.

[00:30:56] They can be your best friends or they could really just put you in the shitter.

[00:31:01] So curious to get your thoughts here.

[00:31:03] Yeah, last time I haven't talked to KDM and in a couple of years but it's a really cool play.

[00:31:09] I mean, it's built.

[00:31:10] Yeah.

[00:31:10] It built it came up through hour like an eyeball.

[00:31:13] So like it's built for that they've been doing it for years.

[00:31:17] Peace.

[00:31:19] I've seen great success stories with peace and I've seen.

[00:31:25] I've seen them destroy companies quite far away like with their ideas and with their kind of arrogance if you will.

[00:31:32] I've seen both sides but I've seen.

[00:31:35] I've seen like with when Vista came into a bullhorn and they did wonderful work.

[00:31:43] And in Vista sometimes gets a bad rap because they have come up.

[00:31:47] They have a playbook that they play by and when they are.

[00:31:50] It's easy to find their successful.

[00:31:52] There's a reason yeah, it's not left the chance and they they throughout the playbook.

[00:31:57] Right.

[00:31:57] I thought it was just genius because the way they worked with bullhorn and art and the rest of the team is.

[00:32:03] They really, really with like start up funding and it uses hundreds of millions of dollars.

[00:32:09] So it's what started right?

[00:32:11] No, no, but the way they worked with them was really entrepreneurial.

[00:32:15] I just I love that.

[00:32:17] So it's you know now the thing is this kiddin' into my knowledge.

[00:32:21] They've never really had a lot of money.

[00:32:23] Like they don't you know, like 150 million dollar rounds.

[00:32:26] They weren't brute strapping but they weren't right.

[00:32:28] Exactly.

[00:32:29] So it'll be interesting to see what they do with the money.

[00:32:32] That's that's my take on this is like okay, when you first get this thing,

[00:32:37] what is it?

[00:32:38] What are you redoing the product?

[00:32:39] Are you going to tear it down and build it back up?

[00:32:41] Are you going to spend it in an international extension?

[00:32:45] I'm pretty sure they want to be a partner of ours.

[00:32:52] I kid 100% way.

[00:32:55] I forgot to Ching Ching the last couple.

[00:32:59] Adam in now.

[00:33:01] There we go.

[00:33:01] We've got three dollar signs.

[00:33:04] All right.

[00:33:04] So let me tell you a little bit about this another acquisition.

[00:33:09] In trust.

[00:33:12] In terms into discussions to wire which they will.

[00:33:14] And they don't announce stuff like this.

[00:33:16] Yeah, though that's different.

[00:33:18] So acquire a identity verification on FIDO.

[00:33:24] That's probably pronounced incorrectly.

[00:33:25] Oh in FIDO.

[00:33:28] So you can find this on intra they're on both the press releases on both sides.

[00:33:32] So it's on FIDO sites on interest to site.

[00:33:35] I found it on interest to site and basically when you read the press release,

[00:33:40] it's talking about identity verification.

[00:33:45] Yeah.

[00:33:46] And with the advent of a not the advent but with the popularization or modernization

[00:33:53] of AI and Gen AI,

[00:33:55] identity verification becomes more important.

[00:33:58] Me knowing who you are that you are actually a real human being being

[00:34:03] because it becomes hype like before.

[00:34:06] Like probably there was a little bit of fraud.

[00:34:10] And yeah, we would like to stamp that out but not really that big of now.

[00:34:15] I think I think this is going to be one of those deals with this category

[00:34:20] is going to get hotter and hotter and hotter.

[00:34:23] And so it gets me to the phrase I've said before, trust to no one

[00:34:27] and no one and nothing until you can verify it.

[00:34:31] Yeah, I want to see where this where where where verification goes.

[00:34:40] I don't know what the solution is but I know there's a better way

[00:34:47] to verify this stuff in a way that is just truthful.

[00:34:52] Right?

[00:34:53] It's like a source of truth and it's like there's so many plays out there now

[00:34:59] that I don't know that they're not modernized.

[00:35:02] They're just more of the same.

[00:35:05] And I think one of these guys has it's a it's a two between revolution and evolution,

[00:35:10] right? So they're evolutionary.

[00:35:11] So they're making another step but there's not like really changing in a block chain

[00:35:16] had the promise.

[00:35:17] Right.

[00:35:18] It hasn't of basically you had to be you on the chain.

[00:35:23] And if you weren't you, you couldn't play you couldn't play the game.

[00:35:26] Right.

[00:35:27] And we might get back to something like that for it to work but you're right.

[00:35:32] I think this whole category of verification, fascinating.

[00:35:35] I think it just gets hotter.

[00:35:37] Yeah.

[00:35:37] No, 100% all right.

[00:35:40] This is not funding but it is a release of a feature of an old friend.

[00:35:45] Of see a old friend of see an old friend of ours.

[00:35:49] Seek out conversational search and so not really doesn't fit in the funding,

[00:35:55] but I just wanted to talk about these guys.

[00:35:57] I love see out well we love everything they do.

[00:35:59] We knew been new been team and since the beginning.

[00:36:03] But so they've got what's called seek out assist right?

[00:36:07] This is their gen i gen AI play and this is a conversational search.

[00:36:11] What I love about this.

[00:36:13] This is a commitment in my eyes anyway.

[00:36:16] This is a commitment to actual recruiting to the top of the funnel,

[00:36:21] tapping into the brain and the recruiter, right?

[00:36:24] Forget the bullying search.

[00:36:25] Forget, you know, I, you know, bullying a master dead, right?

[00:36:29] Whatever.

[00:36:30] Like forget that.

[00:36:32] This is this is leveraging your brain, the recruiters brain and the smarts

[00:36:37] of the recruiter to prompt the system to say, here's what I need.

[00:36:42] Yeah.

[00:36:43] Not that this right and see now who's done phenomenal with this for years.

[00:36:49] Right.

[00:36:50] Is now to point where they have a just a tremendous amount of data to sit on

[00:36:55] that they can do this for the recruiter.

[00:36:58] Now it's I haven't used it in real time, so I can't vouch for it there.

[00:37:04] Those that have and what I'm seeing and talking to people,

[00:37:08] it's actually the real deal and they're doing a great thing.

[00:37:12] So this, this is my world.

[00:37:14] I love top of funnel recruiting.

[00:37:17] I love the marketing piece of everything about this.

[00:37:21] So I'm really, really interested to see where this was in.

[00:37:25] Yep.

[00:37:26] I think it helps everybody.

[00:37:27] Their customers more importantly, again, we've talked about how you get low

[00:37:31] value tasks out and you get some of my value stuff.

[00:37:35] This does that.

[00:37:36] This is one of those things that basically a sorcerer or a recruiter can

[00:37:41] then just talk or type or however you do it.

[00:37:47] And and then I've got the then refined results calibrate,

[00:37:50] recalibrate, recalibrate, recalibrate and then it gets you to a place where you're

[00:37:54] happy.

[00:37:54] Yeah.

[00:37:55] Now I don't want to overplay it like this is the first time this has ever been done.

[00:37:58] None.

[00:37:59] Not saying that they have a massive amount of customers.

[00:38:04] They do.

[00:38:04] They do.

[00:38:05] They've done a wonderful job and they've committed to see you out right and

[00:38:08] they didn't have the so now this is going to be a good play for these people.

[00:38:13] And I think it's going to advance what they're doing and hopefully you'll

[00:38:16] be able to take this and do more in their every process.

[00:38:19] So kudos to the team.

[00:38:21] It's a guy out.

[00:38:24] I love it.

[00:38:25] Okay, Ryan, if have you ever been pitching a story to you?

[00:38:29] Have you ever been stumped by an acronym in HR?

[00:38:35] You know, there been something where you're like, what the hell was that?

[00:38:37] There's a million of many HR.

[00:38:39] There's also one on Instagram that's like 30 letters long.

[00:38:44] I'm not sure if you've ever seen it.

[00:38:45] Oh, yeah.

[00:38:46] But the moment I saw it, I knew exactly what it was and I didn't even have to read it.

[00:38:52] It out.

[00:38:54] You've posted somewhere.

[00:38:56] Well, post it on on the on the on the Instagram page.

[00:38:59] So go find their Instagram page because I'm going to post it there.

[00:39:03] But go ahead, acronym.

[00:39:04] Yes.

[00:39:05] So I get confused all the time.

[00:39:07] So Pio, what's Pio?

[00:39:09] P E O.

[00:39:11] I don't know.

[00:39:14] Okay.

[00:39:15] So basically your A to Z guide of HR acronyms and abbreviation.

[00:39:24] Yeah.

[00:39:25] So this is AI HR.com.

[00:39:27] We've used their site before we like them.

[00:39:30] And basically they've built and will continue to refine a glossary of terms.

[00:39:36] Hmm.

[00:39:37] And so it's cool.

[00:39:39] It's searchable.

[00:39:40] It's built by letters, you know, like the whole build.

[00:39:42] It's very easy to use.

[00:39:44] So in case you run up against the term and you're like reading, oh, what the hell is that?

[00:39:49] Yeah.

[00:39:49] Cause there is one.

[00:39:50] Should the deeper you get in the comp, the more lingo issue.

[00:39:53] There's a lot of learning.

[00:39:55] The more lingo issue gets, right?

[00:39:57] Yeah.

[00:39:57] So like most people we know what an ATS is.

[00:40:01] But like most people outside of like our little industry, they don't know what their

[00:40:04] LATS is.

[00:40:05] ATS, T.E.O.

[00:40:06] Did you really want me to answer a P.E.O?

[00:40:08] But for those that are listed in it are like, how does this do not know?

[00:40:12] Did you just go search it?

[00:40:15] Google.

[00:40:16] No.

[00:40:17] So so basically the bit is again, we're kind of in the research category.

[00:40:23] Kind of giving you some tools to use and hopefully make your life a little bit better.

[00:40:29] You can Google it clearly or you could just have this as a bookmark and then look at it.

[00:40:38] And what I like about it is, hey, I went through the whole, I went through A to Z.

[00:40:43] And what I like about it.

[00:40:47] Well, I knew again, I want to be in your mind just one day.

[00:40:50] Just one.

[00:40:51] I knew most of them.

[00:40:52] I didn't know all of them.

[00:40:53] So like I would trip me up when I would hit something go, oh, I didn't hear that.

[00:40:57] What was that?

[00:40:58] And then I'd read the description go, oh, well, I should have known that.

[00:41:02] So anyhow, it's a great resource.

[00:41:05] Hope you use it and got to see.

[00:41:08] Yeah.

[00:41:09] That's a little minnow.

[00:41:11] So A.J.

[00:41:13] A.C.

[00:41:14] Hang out with you too much.

[00:41:15] And he's what happens like.

[00:41:17] Yeah.

[00:41:17] So like moss just grows on you.

[00:41:22] A.J.

[00:41:22] is them.

[00:41:23] All right.

[00:41:25] We talked about it.

[00:41:25] We had a show this week.

[00:41:27] We did.

[00:41:28] We had a really good show on A.J.

[00:41:30] We did.

[00:41:30] I actually really enjoyed that show.

[00:41:33] I tried to convert.

[00:41:34] I tried to convert you and the guest on being pro-age is a member.

[00:41:39] I can't remember my mind.

[00:41:41] I was trying to sell it.

[00:41:43] Remember, it was like two days ago.

[00:41:45] Of course, I was like, well, I was trying to sell it.

[00:41:48] I was like, both of y'all are like, oh, this makes me feel dirty.

[00:41:53] Why I was waiting.

[00:41:56] I didn't want to be the first one to answer.

[00:41:58] And I was like, hmm, this is the awkward silence of who we're going to talk first.

[00:42:08] Guess I like this big because they came on to talk about how bad A.J.'s am is.

[00:42:13] Run this wide.

[00:42:15] A.J.

[00:42:16] They can help.

[00:42:17] He just look.

[00:42:19] I mean, look, I don't want the 75 year old man, the client ladder at home, deep

[00:42:23] bone get hurt.

[00:42:24] I'm looking for his safety.

[00:42:26] This is worth a safety.

[00:42:30] So this is pretty cool.

[00:42:32] So this is pretty cool.

[00:42:33] This is something I found on, um, I was like, H.C.

[00:42:36] Mag or something crap like that.

[00:42:37] Um, actually it was H.C.

[00:42:39] Mag.

[00:42:39] Yeah.

[00:42:40] So hiring managers confess they have certain biases against recruiting Gen Z and

[00:42:48] interesting your candidates.

[00:42:51] So it's on both sides.

[00:42:52] It's on both sides, right?

[00:42:54] Oh, that's interesting.

[00:42:55] Okay.

[00:42:56] So here's a cut one.

[00:42:57] I have three bullet points here.

[00:42:58] I'm not going to read the whole thing because they're kind of long back.

[00:43:01] Resume builder.

[00:43:02] A survey from resume builder 36% of this is a small sample sample, 360 hiring managers in the US.

[00:43:10] It meant they have age bias against Gen Z candidates or those aged between 18 and 27 years old.

[00:43:17] Okay.

[00:43:19] Another 34% of 343.

[00:43:22] I don't know why it's different, but 34% of the hiring managers also say, yeah, they

[00:43:29] concerned about hiring candidates over the age of 60.

[00:43:33] Okay, it's a bell curve.

[00:43:34] Yeah.

[00:43:34] So basically a third or third or third.

[00:43:36] Yeah.

[00:43:37] So now check this out.

[00:43:38] So buy this is this is anonymous.

[00:43:41] Obviously biases biases biases.

[00:43:45] I say it's a pro dice.

[00:43:47] You guys got it.

[00:43:48] Fies.

[00:43:49] We get it.

[00:43:49] Dices.

[00:43:51] The dice is

[00:43:53] you know, if we just did the moral might be like a five minute show.

[00:43:59] The first one.

[00:44:00] It was a moral mice.

[00:44:01] Mises.

[00:44:02] No.

[00:44:06] What's PEO?

[00:44:08] Yeah.

[00:44:09] PEO.

[00:44:10] All right.

[00:44:12] Fies against job.

[00:44:14] Yeah, that's in that role against job candidates also extended to their appearance.

[00:44:20] Which hiring managers saying they are deterred from considering candidates.

[00:44:28] And I didn't copy the rest of the sentence.

[00:44:30] That's awful.

[00:44:34] I need to go into the rest of the.

[00:44:36] Do you know the rest of the sense because I didn't copy all the best.

[00:44:39] Here's the best part of that.

[00:44:41] And it's related to ages.

[00:44:44] You just trailed off.

[00:44:49] You just feel like I got to the story with what's going to happen when the dogs catch up

[00:44:54] for the.

[00:44:55] Jump, jump, jump.

[00:44:56] Jump.

[00:44:57] I kind of plan that any better.

[00:45:00] No, it's one of the thing is again as we talked about during a show.

[00:45:07] Professional employer organization.

[00:45:09] That's what PEO stands for.

[00:45:10] So.

[00:45:11] So just want to make sure that the audience understands.

[00:45:16] Are they ever going to say what the hell the PEOs were?

[00:45:19] It's so scratch.

[00:45:20] It's just.

[00:45:22] So yeah, I think the thing with ageism is it's always existed.

[00:45:30] It's never going to go away.

[00:45:32] It's never going to go away.

[00:45:33] It's we are talking about it now because it's important to us now.

[00:45:38] But you know what ageism go back to 1840.

[00:45:41] And you tell me that there was an ageism now.

[00:45:43] The ages were different because people didn't live as wrong and people worked earlier in life.

[00:45:49] But you tell me that people didn't have bias then come on.

[00:45:53] There's always been a bias on both sides for different reasons.

[00:45:58] And it's just it's like waves on a beach.

[00:46:00] Yeah, ageism is there.

[00:46:02] So we need to be there without getting his canceled.

[00:46:07] Let's talk about ageism.

[00:46:10] Okay.

[00:46:10] Is it really?

[00:46:12] Is it bad?

[00:46:15] No, to consider use the Home Depot example that I was joking around with safety.

[00:46:22] Safety right is is it now Home Depot hires a lot of older people.

[00:46:28] Yeah, they're retired plumbers.

[00:46:30] They're retired.

[00:46:30] Trishian, they're super intelligent and smart and great at what they've done.

[00:46:35] And they can answer the questions.

[00:46:37] But should a seven year old man or woman should be thrown around sex and concrete and climbing a ladder that's four tiers high.

[00:46:46] Not saying there are most seven years will probably in better shape to me.

[00:46:52] Understreet.

[00:46:53] Understreet.

[00:46:54] Yes.

[00:46:56] But is it the physical ability as a manager?

[00:46:59] Am I looking and say, look physically, I don't think you should be doing this.

[00:47:05] Or is it an age thing?

[00:47:06] Like I I understand.

[00:47:08] I think you have to make yourself wherever age or and if you want to add value to a company, you have to make yourself valuable.

[00:47:15] Right.

[00:47:15] So it's it's it's the onus is on you, the individual, the employee to make yourself valuable.

[00:47:23] If you can't throw concrete, okay.

[00:47:25] There's other things that you can do to add value.

[00:47:29] Right.

[00:47:30] So as long as you're adding value, then there's no problem.

[00:47:32] It's the problem becomes where either you feel like you're owed something, some type of entitlement or you can't throw concrete and you don't want to add value somewhere else.

[00:47:46] Right.

[00:47:46] All right.

[00:47:46] Well, we have a we have a problem because now the company has to pick up the slack.

[00:47:52] They have to go hire someone else or that thing doesn't get done.

[00:47:55] Then we give back into accommodations.

[00:47:59] Right.

[00:47:59] Did you did the employer make reasonable, equitable accommodations for somebody who is unable to which I am for.

[00:48:06] I am I am exactly for.

[00:48:09] I am absolutely for accommodations.

[00:48:11] Oh, 100% pro accommodations.

[00:48:13] Right.

[00:48:13] The thing is, is accommodations help you thrive.

[00:48:17] That's absolutely right.

[00:48:18] That's all we're talking about here.

[00:48:20] We're talking about risk and risk mitigation.

[00:48:22] Correct.

[00:48:23] So if you're helping someone thrive in it and then basically say, hey, I've got this Lexia.

[00:48:27] So I'm going to have a hard time with signage.

[00:48:29] Right.

[00:48:29] You know, just kind of if you want to put me on in the retail sense, if you want me to go do signage or work, change out all the price points and stuff like that.

[00:48:37] I mean, I'm probably going to struggle.

[00:48:39] Now again, that's different than they say, oh, why you know what?

[00:48:43] You've got these other skills.

[00:48:45] Won't you do these things?

[00:48:46] Sure.

[00:48:47] Sure.

[00:48:48] So like an accommodation isn't that that's not what we're talking about.

[00:48:53] 100% 100% but I think wonderful.

[00:48:56] I think certain certain circumstances it crosses over.

[00:49:00] I think you're right.

[00:49:02] I think I think the people will misclassify.

[00:49:05] Correct.

[00:49:06] That someone will say, you know what?

[00:49:08] I need to I can't stand on my feet for eight hours.

[00:49:11] Right.

[00:49:12] You know, because I got I got I'm just using myself in the example.

[00:49:15] I've got a bunch of titanium through my body and I just can't stand for long.

[00:49:20] I think that makes you stand longer like your titanium.

[00:49:24] No, unfortunately, super hero.

[00:49:26] No, unfortunately it's it's a it's not that way.

[00:49:30] It's but but the thing is is like okay, if I know that cool, well, I can do you can do what's your max?

[00:49:37] Like we're starting to hurt two hours straight.

[00:49:39] Well, listen, we're going to do two hours and we're going to do a longer shift, but we're going to take two hours and take 30 minute breaks.

[00:49:45] Right.

[00:49:46] That way you it's reasonably accountable.

[00:49:49] Right.

[00:49:50] Like we can take care of that.

[00:49:51] Well, like we don't need you to be in pain.

[00:49:53] We don't want you to be in pain because if you're in pain, you're not doing customers any good.

[00:49:57] Right.

[00:49:57] You're not doing the business any good.

[00:49:58] Right.

[00:50:00] The business should always do what's in the best interest of the business.

[00:50:04] It's a business and they usually do.

[00:50:05] Yeah.

[00:50:06] And they

[00:50:07] they should.

[00:50:09] And let me picture this story.

[00:50:11] US engagement hits 11 year low.

[00:50:18] Engage from.

[00:50:18] Well, you know, employees in playing.

[00:50:21] Engage.

[00:50:22] I know people are getting engaged.

[00:50:25] That's that I think that's the first statement we need to look at out.

[00:50:28] So this is for Gallop gallop gallop.com so you can go and take a look at that.

[00:50:33] They do all kinds of cool studies, but 4.8 million fewer US employees were engaged in early Q1 2024.

[00:50:41] See that sentence right there.

[00:50:43] I'm going to take you off topic here.

[00:50:44] You just 4.8 million fewer US employees were engaged in early 2024.

[00:50:52] That could be a couple of things.

[00:50:53] Yes.

[00:50:54] No, they're talking about employee engagement.

[00:50:56] But it's fair.

[00:50:57] It is a fair statement.

[00:50:58] I think the thing for me as I read the article is why is this?

[00:51:04] Why are there less people engaged like what's?

[00:51:07] Yeah, underpinning right?

[00:51:09] What's driving this?

[00:51:10] Why what's why are people less engaged?

[00:51:13] I came to the conclusion of two things.

[00:51:16] One is has the definition of engagement changed unbeknownst to us.

[00:51:22] What we think of as engagement is in a dated concept.

[00:51:27] Like I used to I used to think engagement equals discretionary effort.

[00:51:33] And discretionary effort meaning you get the email at 5 o'clock on Friday and it's about a two hour task.

[00:51:41] Do you do it then?

[00:51:42] Do you do it over the weekend?

[00:51:43] Do you wait till Monday?

[00:51:45] And that's at the discretion of the employee always has to and always will be.

[00:51:50] And so when someone classically has when someone has been engaged,

[00:51:56] it just did work.

[00:51:57] Good done.

[00:51:58] Well, I'm going to push that off.

[00:52:00] I'm going to get that done.

[00:52:01] Take care of customers, whatever the bit is.

[00:52:02] We get that job done.

[00:52:04] And so it's that discretionary effort.

[00:52:06] I could do this.

[00:52:07] I don't have to do this.

[00:52:09] That's how people have looked at engagement in the past.

[00:52:12] But how do you look at discretionary effort in a remote or hybrid or a highly flexible and work environment?

[00:52:21] And so I think what it got me to really think about is like,

[00:52:24] there's been a redefining of what engagement is.

[00:52:27] So yeah, the numbers down 11 year.

[00:52:29] Yeah, 100% and it's down.

[00:52:32] But is it down?

[00:52:34] Or is it because people are rethought their lives?

[00:52:38] And they have a different way of consuming and thinking about the construct of engagement,

[00:52:44] both employer and employee.

[00:52:47] So it's a cool study.

[00:52:49] Take a look at it.

[00:52:50] Come your own conclusions, of course.

[00:52:53] But I believe my heart of hearts.

[00:52:55] I think that.

[00:52:57] I think that we're saying engagement, employee engagement.

[00:53:02] And it's meaning something different to both parties both.

[00:53:05] Yeah, both.

[00:53:06] So yeah, go look at the study.

[00:53:09] Yeah, that's interesting.

[00:53:10] It's interesting because I have my definition, which is probably the same as yours and how engaged,

[00:53:17] well, I should use it work, but how, how loyal or how motivated right into the company I am.

[00:53:24] And what how motivated I am to meet the goals of the company.

[00:53:30] Right.

[00:53:31] To do the work required and how I work with my colleagues and how I interact with customers

[00:53:37] and how excited I am to be there.

[00:53:40] There's a lot that can go into that.

[00:53:41] It could also mean a lot of other things too, right?

[00:53:46] So this is interesting because it's kind of like we recently had a conversation with James Ellis on on brand on

[00:53:54] brand.

[00:53:55] Yeah, employer brand and we had a definition he said no.

[00:54:02] He said you're wrong.

[00:54:04] He added a few other words in there.

[00:54:07] He got wrinkles on his head.

[00:54:09] I'm not saying you're stupid.

[00:54:11] However, he's stupid.

[00:54:12] Yeah, and he just said no, employer brand.

[00:54:18] Just and I'm going to miss quote him here, but I'll get close is just being clear on what you want.

[00:54:25] Right?

[00:54:26] So is it is engagement just being clear on what you want right like a portion of that?

[00:54:32] Like yeah, they could be it can mean a lot of different things, but I think to measure it.

[00:54:36] Yes, you're right.

[00:54:37] You need to agree to have a definition and agree on what that is.

[00:54:42] Yeah, because when you read that study, it's like it, oh, this is scary.

[00:54:45] Okay, well, is it or is it that people are rethinking it and maybe the definition has changed for people thinking about differently?

[00:54:53] I don't know.

[00:54:54] I think it's okay that I change at times have changed.

[00:54:56] This is yeah, I mean, it's yeah.

[00:55:00] What you got?

[00:55:01] I'm with you.

[00:55:02] I'm with you.

[00:55:03] All right.

[00:55:04] So I found this audit study which I just thought was beautiful.

[00:55:09] It's an old study was done in 2021.

[00:55:12] The results were released in 2021.

[00:55:16] But now they've re-released with name or naming the company.

[00:55:21] So in 2021, the results of this study were released.

[00:55:25] Sans the name companies that they've measured.

[00:55:30] Now is being re-released and it actually releasing the names of the company.

[00:55:36] So some of this is outdated process and stuff could have changed, but this was just released.

[00:55:41] So what happened here was researchers sent 80,000 fake resumes and applied to US jobs across a whole bunch of companies across the country.

[00:55:53] Okay.

[00:55:54] So there's a, we'll just have this way too much to talk about here.

[00:55:59] We can have two shows on this.

[00:56:02] But I want to give you there's a couple of things they measured here.

[00:56:05] So I want to share that and then we'll kind of go back and forth on this.

[00:56:09] But the largest racial gap.

[00:56:11] There were two companies that were named auto nation and GPC.

[00:56:15] I don't know what GPC is.

[00:56:17] The smallest racial gap.

[00:56:19] Okay, these are companies that had almost zero racial gap found in their recruiting process, which is how they've accepted the resume.

[00:56:31] The job description, the response on the resume, how they respond it when they responded all of that stuff.

[00:56:40] Avis, the rental company charter, Dr. Pepper, FedEx, Hilton, Cole, Croger, Lowe, McLean, Mondalex, Ryder and Cisco.

[00:56:51] Right.

[00:56:52] We're found to have to have the smallest gap most of them with a zero on school.

[00:56:58] So if I understand this, there's submitted the eighth 80,000 and they're all obviously different people, etc.

[00:57:05] Those that move forward in the process is it's highlighting less of a gap.

[00:57:11] Those that got dinged.

[00:57:14] And so shows a larger gap.

[00:57:16] Is that basically what they say?

[00:57:18] So the resumes were standard, right?

[00:57:21] They had two different resumes.

[00:57:22] They had one had a couple variations of them, but they were all the same when they sent them different names.

[00:57:28] Oh, okay.

[00:57:29] So some were clearly historically white names.

[00:57:33] Right.

[00:57:34] Some were clearly, clearly historically African American names.

[00:57:38] Some were, you know, before you go any further, did they change anything other than the name?

[00:57:43] They did.

[00:57:44] They also changed certain things like, uh, automatically stop, stop talking.

[00:57:50] Stop.

[00:57:51] So here's the thing.

[00:57:53] If they changed the name and they changed the school, now you have his multivariable analysis.

[00:57:58] So somebody could have dinged that because of the name or they could have dinged it because of the school.

[00:58:02] No, so the stand.

[00:58:04] So those major headings, right from my understanding remain the same with a change were clubs, for example,

[00:58:12] like sororities.

[00:58:13] It may have been a historically black.

[00:58:16] As opposed to a, you know, a Jewish fraternity, right?

[00:58:21] So they changed it multiple things on one resume as my point.

[00:58:25] Um, meaning what?

[00:58:26] Like the name.

[00:58:27] So mine, yeah, let's say my name is the same.

[00:58:30] But.

[00:58:32] You've changed two or three different variables on my resume.

[00:58:36] Yeah, they were.

[00:58:37] Yeah, so like they changed again from what I've read.

[00:58:40] They changed the, um, yeah, like clubs and sororities fraternities or, uh,

[00:58:47] So they made a white resume.

[00:58:49] They made a black resume.

[00:58:51] They made an Asian.

[00:58:52] Yeah, exactly.

[00:58:53] Okay.

[00:58:54] And what they found was that there.

[00:58:56] Yeah, there's, there's a lot of different gaps here, of course.

[00:58:59] So too much to list here, but it is really, really interesting.

[00:59:03] And those were the companies that came out.

[00:59:06] GPC is genuine part of parts of me.

[00:59:09] It's a part of, yeah, it's Napa.

[00:59:12] Ah, okay.

[00:59:14] Yeah, there you are.

[00:59:15] Both of them are in the, uh, that's their stock symbol.

[00:59:18] That's why so many of them are in an auto.

[00:59:23] Um, so the, yeah.

[00:59:26] Yeah, so on average.

[00:59:28] So one thing I can't, I can't say that companies did not treat the male and female apple.

[00:59:32] And male and female applicants differently.

[00:59:35] Hmm, versus, you know, male, verse female.

[00:59:38] Until they, yeah, until they hit different things like, um,

[00:59:42] uh, you know, uh, race, right?

[00:59:46] No penalties were found for using non binary pronouns for being gay as indicated by the LGBTQ on the.

[00:59:58] Uh, on the, uh, on the resume.

[01:00:01] Um, but it did result in a slightly higher penalty for white applicants.

[01:00:11] If you associated in a club or had LGBTQ on the resume,

[01:00:19] but then black applicants.

[01:00:23] Yeah, yeah.

[01:00:28] Yeah.

[01:00:29] Yeah.

[01:00:30] You know what?

[01:00:31] I want to see, I want to see this now with millions.

[01:00:36] I want to see it with a large, large data set.

[01:00:39] Yeah, because I would really give us some insight into the state of where we are right now and hiring.

[01:00:45] Yeah.

[01:00:46] Like we think we've addressed.

[01:00:48] Uh, three.

[01:00:50] Well, you know, no worries.

[01:00:54] I saw at least triangles that I know.

[01:01:05] Hey, my little bit thermal heat last night.

[01:01:10] Next stop.

[01:01:11] Do something different.

[01:01:13] Right.

[01:01:14] This is the last of the R about to get into the F.

[01:01:18] This, this came.

[01:01:20] This is an interesting study.

[01:01:23] So this, the basically the title of his examination on weather and how.

[01:01:29] So there's two things.

[01:01:30] Leader humility enhances leader personnel success.

[01:01:36] Their career success.

[01:01:38] So it's basically looking at two things.

[01:01:40] So now you are doing multiple variables.

[01:01:42] You're looking at whether it happened and how.

[01:01:45] So they're studied basically humility.

[01:01:48] And so, so you read the conclusions is online library and wily.com.

[01:01:55] You just got a wily.com and search for humility.

[01:01:59] So basically I went to the, I read, I didn't read the whole report because it was, it was a bit long, but.

[01:02:06] The conclusion was this humility creates informality.

[01:02:13] It creates mentorist, protégé and mentor relationships.

[01:02:18] Where people can feel like they can actually talk with one another.

[01:02:22] That gives the appearance of promotability.

[01:02:26] So like think about in your own life when you've been mentors or mentored others.

[01:02:32] And if you're humble.

[01:02:34] At points with people I was a mistake I made, you know that, you know, when you're humble and you're.

[01:02:40] You're not arrogant, you know, you're not taking credit for other people's work and stuff.

[01:02:45] So there's a humility.

[01:02:47] A humbleness if you will to you.

[01:02:50] Then what the study is saying is that humbleness actually comes out in a form of other people view you.

[01:02:58] As a better leader.

[01:03:00] True. Yeah.

[01:03:01] And then your promotability goes up.

[01:03:04] And so if you've ever wanted to study and data around why it's good to be humble.

[01:03:13] They've created it for you.

[01:03:15] So go check, check that out.

[01:03:17] Yeah, this is.

[01:03:19] It's interesting to me.

[01:03:21] I've always kind of secretly wanted to researcher study this.

[01:03:27] So maybe I'll take a read.

[01:03:29] And I'm thinking examples in my mind.

[01:03:32] I'm thinking of sports.

[01:03:35] The head coach, I've got to do better.

[01:03:38] I've got to put my players into a better place.

[01:03:40] Right.

[01:03:41] Quarterbacks and yeah, you know what?

[01:03:43] I didn't have my best game.

[01:03:45] They dropped seven passes.

[01:03:48] You.

[01:03:49] You.

[01:03:50] You.

[01:03:51] You.

[01:03:52] You.

[01:03:53] You.

[01:03:54] You.

[01:03:55] You.

[01:03:56] You.

[01:03:57] You know, you know, Andy, read your full shit.

[01:03:59] You.

[01:04:00] In your mind because you know the moment you get off that stage and you go in that.

[01:04:06] I'm.

[01:04:07] You.

[01:04:08] You.

[01:04:09] Yeah, you're going to lie somebody up.

[01:04:11] And so I think that myself like, okay.

[01:04:15] I get it.

[01:04:16] That's the game.

[01:04:17] They have to do that.

[01:04:19] They don't have to do that.

[01:04:21] They don't have to.

[01:04:22] But they don't have to do that.

[01:04:23] I'm not really playing in that.

[01:04:25] Well, yeah, I mean they're all right.

[01:04:26] Yeah, but when I think of it,

[01:04:28] yeah, because it's the whole game.

[01:04:30] There are a lot of on sports talk radio.

[01:04:32] Oh, yeah.

[01:04:33] He's so accountable.

[01:04:34] He's this.

[01:04:35] He's that.

[01:04:36] I'm thinking he's full of shit.

[01:04:38] Like I see through that, right?

[01:04:39] Like I don't know if he's playing the game.

[01:04:41] I was.

[01:04:42] They're playing the game because you know, we see it in all sports.

[01:04:46] Yeah, and I was different than in,

[01:04:47] in,

[01:04:48] in,

[01:04:49] in,

[01:04:50] in a corporate environment.

[01:04:51] Connects I never work for Rudy. I advise them some deals and I knew him well enough to say his name

[01:04:59] And it's for him to know me, but he always seemed humble to me

[01:05:03] He always seemed approachable at least like I felt like I could talk to the guy a very

[01:05:07] much possible very approachable and that might have been a game

[01:05:11] There is a time. I got to tell this story. I know we're way over time. I got to tell this story

[01:05:18] Sales client we're in the in the home office here in

[01:05:22] Plymouth, New York, King of Russia. Dell was the client right they come in for our PO deal

[01:05:28] Right everyone's in the office. I'm up here. I'm doing my bit right on talking

[01:05:34] I'm acting like big wig and I'm doing my thing

[01:05:36] He walks in the room

[01:05:39] Marges in

[01:05:41] And just starts talking right it was almost like it was scripted

[01:05:46] It's like hey guys

[01:05:50] Now he's lovable right like you hear him talk and people fall in love with them

[01:05:55] He introduced himself to me

[01:06:00] In front of the client and I'm up there selling

[01:06:05] I know him right

[01:06:09] I don't know how this is right and story Ryan my name is Rudy. We might not know each other

[01:06:16] It was the most it was it was kind of the most awkward yet. Oh, yeah fun

[01:06:21] Things that has ever happened to me

[01:06:24] But he is one of those leaders yes

[01:06:26] There's then there's a couple more that I've worked with in the past

[01:06:29] That are exact doing that have done exactly what you're talking about

[01:06:33] But they've done it in a way that wasn't like Andy or another

[01:06:39] You're hate for Andy read is

[01:06:41] Never get but I you can't take it take us to seven or whatever the whole was NFC chance

[01:06:46] Three in a row three national yeah, and then go to Kansas City and just win seven fucking two

[01:06:52] Well, you can't know so yes. I have he hates

[01:06:57] I want to see him do well

[01:07:01] All right

[01:07:05] Today done it in different ways, but there is a very

[01:07:09] specific formula I think

[01:07:12] To that yeah feeling the back to humility up

[01:07:17] So I think that the again getting back to where we've talked about authenticity and being genuine to I

[01:07:24] Think if you're that person on stage in front of the cameras

[01:07:28] Yeah, and you're a different person behind that then you're not really humble right you just playing the game

[01:07:34] Right, but if you're the same person on stage and then you go off stage and you meet with us twiers and say hey listen

[01:07:42] I told you a lot. I told the news

[01:07:45] This is the bit and we got some things to work on and let's let's do that like if you're that coach

[01:07:51] Then you're truly humble and it kind of comes out

[01:07:54] And I think the people that are fraudulent

[01:07:57] That comes out as well right right so all right

[01:08:00] We'll go through the F's now

[01:08:02] Money it we're gonna we're gonna go through these quick does you know

[01:08:07] First of all, there's just there's a bunch of men so we don't we don't

[01:08:11] So sprint toe that helps business is

[01:08:15] Build trust through its compliance and risk platform. This is a

[01:08:20] Finance at yahir.com. So

[01:08:23] Basically they just they just raised $20 million and what I love about this play is

[01:08:29] It's not looking at compliance and silos

[01:08:32] So it's looking at compliance in every facet of the business cross the enterprise and with AI

[01:08:42] They're looking at at an in real time

[01:08:45] So they're getting upgrading your compliance, but they're looking at every form of compliance

[01:08:50] Not just employees not just this that or the other but they they've broken all the silos

[01:08:56] Right, and so I think it's a great play. So there you go $20 million good for them

[01:09:01] Take a look at them it's sprint toe

[01:09:03] I know I used to hate compliance talk man benefits of clients all is it was the boringest thing in the

[01:09:10] sexy I'm telling it the last couple of years

[01:09:14] I am starting to fall in love with it so come around

[01:09:17] Steps connect closing whopping $1 million right so not massive right to start up founded in 22

[01:09:24] So this is kind of their time. It's actually pretty good. That's pretty good for two years into the business

[01:09:29] Yeah, so their goal is to help Gen Z millennial or to help find Gen Z and millennial talent

[01:09:38] I don't know much about this company. I'm sure sure they're gonna do well

[01:09:42] They're gonna use it to build out their job description builders

[01:09:45] They're matching an AI and all that stuff and their social push

[01:09:50] But as I say that

[01:09:53] It feels like it sounds like I know I sound negative here something more the same

[01:09:59] Like how many companies do we need to build better job descriptions and matching AI and social pushes and all of that

[01:10:08] You want the good news about news? Am I talking about the wrong thing? What no, just do you want to push

[01:10:15] What do you mean? I don't know what

[01:10:18] Tell me pick one you gotta pick one

[01:10:22] Give me the good news. Let's go positive

[01:10:25] It's no goodness so

[01:10:28] We talked about this last week

[01:10:33] I knew we talked about this last week

[01:10:36] I hope you're gonna catch it

[01:10:45] I was I didn't know if you're gonna actually let me talk about it

[01:10:48] But what I'm gonna want to talk about it see if he catches it

[01:10:52] All right, oh my god

[01:10:53] You're gonna have a heart attack and you're gonna die at the age of 55 because I make you laugh too much

[01:11:00] Yeah

[01:11:06] I thought you'd have seen it earlier when I dropped it in there

[01:11:11] Not this quick search reveals

[01:11:15] Yes, he did

[01:11:17] All right, let's move on

[01:11:19] We've talked about it. I don't know if you might want to let's get the summer

[01:11:24] You know

[01:11:27] So

[01:11:30] Summer which the name of a company not a stripper

[01:11:35] Summer raises nine million dollars to make student-alone

[01:11:39] Assistance from from employers a workplace benefit. I kind of like you and I didn't add hope in this

[01:11:46] Why he just they just erased a bunch of billion dollars with a dead. I'm like

[01:11:51] Did you say a bunch of billions of what's your billion? I think it's 98

[01:11:56] Yeah, they're nine. It's like 7.8

[01:11:58] I do like I'm I paid off my student loans. Where's my like just give me a tax rate

[01:12:03] Yeah, so you and I had the privilege of actually

[01:12:07] Podcasting will with will see Lee about a month. K-thon month ago on the use case podcast

[01:12:14] It's a cool play. It's a benefit and it's a benefit about helping people that need

[01:12:19] It's not forgiveness, but it's it's helping them. It's financial wellness in that

[01:12:25] So I found this on alleywatch.com so you go there and put it in summer

[01:12:30] And will fantastic person definitely listen to the use case podcast because he'll sell it

[01:12:35] I mean he'll nine million dollars is a small amount of money

[01:12:39] No, and he'll he'll give you everything you need to know so yeah, he you know

[01:12:43] He he's one of those guys we spoke with he's got a fantastic story from his parents. Oh, yeah, oh, yeah, but he's smart

[01:12:54] Oh, what's this? He's a smart guy

[01:12:57] um, so yes

[01:12:59] Yeah, and this is again, you're not forgiving dad and not paying off your loans just financially

[01:13:03] I just help your employees

[01:13:05] And this is where my age is. I'm gonna come in

[01:13:10] He's a younger guy

[01:13:13] And I mean he's incredibly smart and he took an experience that he had

[01:13:19] Mm-hmm and is built a company

[01:13:22] With a mission to get it. Yeah, and kudos to him kudos to him

[01:13:27] You know it it never came up. That's what was the funny thing is like why we were talking well. I don't think we ever talk about funding

[01:13:34] No, we'll go back. I look at the transfer. Oh, we ever mentioned no

[01:13:38] funding

[01:13:40] We just both fell in love with him because he's just smart and it's a good idea. Yeah, yeah

[01:13:44] Yeah, and we got it right away

[01:13:46] It's one of those cool projects all right fact factorial

[01:13:51] 80 million dollar

[01:13:53] Go-to-market investment from general catalyst

[01:13:57] So this is an SMB core HR solution

[01:14:00] based in a place where they play a lot of football

[01:14:05] Barcelona

[01:14:06] Yeah, do you like how I said football? I did thank you football they played they played a lot of soccer out there

[01:14:14] So waiting it's shot. No

[01:14:17] Yeah

[01:14:19] I like I like to play it's interesting as I as I looked into it as well

[01:14:25] Is they just did a raise in 22

[01:14:29] And they raised I think it was 100 hundred and 20 and whatever whatever where it was right and they have a hundred million dollars in the bank

[01:14:37] Yes, cash

[01:14:39] So basically what this is in my opinion

[01:14:42] This is 80 million of we're going to make other people rich

[01:14:46] Fums

[01:14:47] So we don't really need the 80 million

[01:14:50] But this is what you do to create wealth for other people

[01:14:53] Yeah, you bring some other people before you go public or whatever but it's it's a unicorn

[01:14:59] And from what I gather

[01:15:02] It's it's it's really good. It's like

[01:15:05] Similar to I think what we would think of like bamboo HR where they do kind of a full suite

[01:15:12] Right for the SMB and so it's light. It's not it's not an enterprise play

[01:15:17] But it has enough of the stuff that you need and none of the stuff that you don't need

[01:15:21] So I like that um and again, I

[01:15:24] If we don't see him as much here in the states yet

[01:15:27] We probably will I would assume you got a hundred and eighty million dollars

[01:15:31] Yeah, so they'll be here. They'll be and I think it's notable to to mention

[01:15:37] um

[01:15:38] From their initial

[01:15:40] Take their initial raise they went from say 70 customers at that time a grown to over 10,000 customers

[01:15:47] Oh, it's insane. Yeah, it's insane

[01:15:49] And that's not a lot of time

[01:15:51] I looked at their site in both English and Spanish

[01:15:54] So I read it I read it in English just to see or if I got it

[01:15:58] Then I would back and look that in Spanish because that's obviously a shame

[01:16:02] So I looked at it in Spanish. I'm like

[01:16:05] That's cool. I mean first of all, I was

[01:16:08] Fascinating because

[01:16:10] Yeah, well as much as I could

[01:16:12] But like like on the contact page

[01:16:16] They don't on the American on the English side American on the austi American so

[01:16:23] This is why I want to be in your hand for a day

[01:16:25] I you know, that's what I do austi American every day

[01:16:30] So the like on their contact page for the English version it doesn't have a have a corporate headquarters

[01:16:37] Right even though it has a

[01:16:39] Uh a US number

[01:16:41] It's a call

[01:16:43] Right when you go to the when you go to the Spanish page. It has a corporate location

[01:16:48] And it has a number and all that other stuff but it's like

[01:16:51] It's just I don't know. It's just fascinating. Just going through. I mean

[01:16:54] It's translated into more than just English and Spanish of course, but yeah because they've come from Barcelona. I'm always fascinated

[01:17:02] Alrighty, let me pitch you this one

[01:17:04] So this is Vera Mark reference checking

[01:17:07] Uh platform Vera Mark raises three billion in a pre-series B

[01:17:13] Row

[01:17:13] So what that means is they've done an A it's done probably friends and family whatever and then they've done an A

[01:17:18] or C been an A

[01:17:21] And then now they're doing a B

[01:17:24] But it's not all fully funded yet and they're releasing this out

[01:17:27] And saying yeah, we got three million in pre in a pre series B

[01:17:32] Now Vera Mark I know Vera Mark so this said there think of first advantage

[01:17:37] or um

[01:17:40] I guess anyway when it does background checks. I mean you have our friends that do background checks right

[01:17:45] Um think of this international so they do global

[01:17:49] Identify

[01:17:51] of background checks identification

[01:17:53] identification verification

[01:17:56] And what's fascinating is I know one of their co-founders

[01:18:00] So he

[01:18:02] He

[01:18:03] Created the workplace accelerator because he's in Singapore. He's a Brit but he's in Singapore

[01:18:08] And he wanted to kind of fund some HR plays and so he created an accelerator

[01:18:13] And he was running Vera Mark time but Vera Mark was just kind of on its own doing it bit

[01:18:18] making money and

[01:18:20] And then he went out and did a series A

[01:18:23] I can't release the terms but it was uh

[01:18:27] It was aggressive for the time. It was a really aggressive round

[01:18:32] The the valuation was very high

[01:18:36] And they got it. They got the funding and now they're just killing it

[01:18:42] So again, you could do you know like if you're on a background check on somebody and you know

[01:18:48] Dallas, Texas like you could do that

[01:18:51] 50 different ways

[01:18:53] Like the okay, we can do that

[01:18:55] What's you need to run that same background check on someone in Vietnam

[01:19:00] It's it's harder. Yeah, it's harder. You still do it

[01:19:04] It's just harder anybody in that space we've had Dan on from accurate before

[01:19:08] It's it's just harder when you get outside the four walls of the US or even English speaking company countries

[01:19:14] You deal with privacy all kinds of stuff to navigate so it's good for them and good for Daniel

[01:19:21] Yeah, so a question question on this is this is me wanting to learn

[01:19:27] why

[01:19:29] Okay, there's a lot of background check companies

[01:19:32] Right in this space

[01:19:35] Why is this okay? Why is Vera Mark different than accurate and why is accurate different than checker

[01:19:42] I know they do slightly different things

[01:19:44] But I'd say this is to do really so much things like you just do in the 186 countries

[01:19:50] Okay, so was that I mean like it's like check

[01:19:53] Yeah, so but it like what is the real difference between each background check company

[01:20:00] Well some of most of them have migrated into identity verification and then

[01:20:06] um

[01:20:06] becoming assessed company if they weren't already assessed company becoming assessed coming because background checks started

[01:20:13] And with private investigators, there's a certain right you're hard to go look up. You know, Teddy

[01:20:19] Uh, and stuff like that and and if Teddy where's a Teddy? You know the whole bit you want to know everything before your heart

[01:20:25] So like that was a bit there was a service

[01:20:28] When when they when they started to kind of migrate a couple years ago into

[01:20:35] um

[01:20:35] My employee monitoring

[01:20:38] So when you and I

[01:20:40] We probably did a background check for some company that was pre-employment

[01:20:44] So in pre-employment we're going to like Terry was, you know, Teddy where's a Terry?

[01:20:49] Okay, so like we would look at that and then we either accept him in or not

[01:20:54] But then we never check it again

[01:20:55] Right then he got into listening and

[01:20:58] Now now that they're doing all of them are doing is they've created a SaaS monitor

[01:21:03] a SaaS model business model financial model that then does

[01:21:08] Here if you pay a 39, you know 99

[01:21:12] You know, let's make a little simple of the math. Let you know $5 an employee a month

[01:21:16] We're going to consistently once a month monitor them

[01:21:21] In the sense of we'll go and look at court records. We'll go and look at things that are

[01:21:27] Available and with compliance obviously they're not gonna do anything do anything illegal

[01:21:31] So they're going to go and look at that and then you'll know because here's the risk

[01:21:38] You didn't hire a murder

[01:21:40] That's gonna become

[01:21:42] They become a sex offender

[01:21:45] They don't have to tell you

[01:21:47] That they're going through that

[01:21:49] So it's one of those deals you're doing with risk

[01:21:52] HR is doing constantly kind of managing risk reward and so

[01:21:58] They're you know, they would tell you all the different things that are different from a you know one of our

[01:22:03] Sponsors they do some of this as well

[01:22:05] Sure, they all do it a little bit differently

[01:22:08] So there is some nuances to his like car manufacturers. Okay, yeah, you have four tires steering well

[01:22:13] We get it but they'll do it a little bit different

[01:22:15] You know, it's a little different you want to hear a hunter said with very mark there's

[01:22:20] Came to market and said where you're familiar with all the list of all the right wonderful a public a lot of them are publicly traded now

[01:22:30] Background check companies

[01:22:32] We do that we just do it in every country

[01:22:35] And you know maybe not in the world but we do it in a lot of different countries so that's not you then you're gonna hire in

[01:22:41] Okay, so I'll tell you super fast not funny story. You'll say funny. This is funny

[01:22:48] You mentioned murderers

[01:22:52] My brother law is not a murder sewer this goes not a murder

[01:22:55] What he got called the jury duty and he got correct for the trial. This is just this week. Okay, okay

[01:23:02] So

[01:23:03] The woman

[01:23:05] Killed her husband

[01:23:07] Pizza shop they own a piece of shop nice to eat a shop in area

[01:23:10] Couple years ago she killed her husband shot him back it ahead

[01:23:14] Don

[01:23:19] Let them into pizza shop for a couple of days

[01:23:22] Then got him home

[01:23:25] They were redoing the driveway

[01:23:28] Stuck him underneath the driveway

[01:23:33] And rolled the new driveway over top of

[01:23:37] Um, are you like this person?

[01:23:40] I like this because then every time you park the car

[01:23:47] So he never sat the trial they held out she pleaded it down to whatever

[01:23:51] um

[01:23:53] But you mentioned murder. She's a great example

[01:23:57] Yeah

[01:23:59] No, she put a bullet person

[01:24:01] She put a bullet in the back of his head and this episode snapped

[01:24:05] Good

[01:24:09] JFF ventures so for you keeping track at home that's jff.org

[01:24:16] A three-letter domain

[01:24:18] So jff ventures is a cool

[01:24:22] Venture to look at because what they do is there at the intersection of education

[01:24:27] You know, you know workforce and human potential and they just raised the second fund

[01:24:32] They had a first fund. I think it was 50 million

[01:24:34] They raised the

[01:24:36] Second fund and no they'll add to it a 15 million dollars, but so it's

[01:24:41] It's HR tech but it's also looking at other things that are connected to HR tech

[01:24:47] So what happens in the workplace also happens on

[01:24:50] In education

[01:24:52] It also happens where people are left out in terms of human potential

[01:24:56] Right, so it's really got it says it's it's really got a cool mission statement

[01:25:01] It is a venture firm, you know, they raised money and they deploy capital

[01:25:06] They want to return on their capital. So this isn't

[01:25:10] They didn't fill in traffic however

[01:25:13] It's as close to fill in traffic or at least mission-based that I've seen in our space

[01:25:17] So go look at the fund jff.org and then

[01:25:24] Look at where what they funded did

[01:25:27] Look at their portfolio of what they funded and I think you'll be fascinated and follow the money like with all these things

[01:25:33] Follow the money. Why like father on the money?

[01:25:37] Show show me the money Jerry. I'll take it to the money show me the money Jerry

[01:25:41] Oh, this is a one-way man. We talked about a lot

[01:25:45] We had a lot this week

[01:25:46] Well some of that if you would maybe not cover some of the stories that we

[01:25:52] You mean you mean you mean don't cover the ones we did last week before and in January and I'm just saying that maybe you could listen

[01:26:01] But that's so good

[01:26:03] Yeah, yeah, I just wanted to

[01:26:06] All right, listen

[01:26:09] Shot it if you're still listening and I hope you are or watching or watching. Yeah

[01:26:15] Yeah, I think he said earlier you're watching and listening or you said it the other day. I'm like no

[01:26:20] I'm in the car. I'm probably not watching

[01:26:23] You're not in the car. Yeah, you don't have to be subscribed everywhere follow us on social see us out there in public say hello

[01:26:32] If you have sweatshirts, please send me one. I would love you forever

[01:26:38] We'll see you next time